Newbie trying to get started in North Jersey [Archive] - Coinwash The key to a successful Laundromat Business.

Binky

11-15-2004, 10:18 AM

Over the past 1-2 years I have been actively researching this business/industry, and think it can be a great opportunity. Through drive by, Yellow Pages searches, and other means, I have managed to figure out where most, if not all, of the mats are in the Bergen County area I am interested in. With the exception of the Fowler website, I have not been able to find anything on-line or locate a broker to aid in my search for available stores for sale. I've tried registering at NYlaundromats.com for their available lists, but never received anything.

Anyone have advice on how to locate available stores in my area without sending out a lot of blind inquiries to store owners?

Anonymous

11-15-2004, 03:28 PM

Good Luck! Bergen County is saturated as is most of the tri-state area.
I am also impressed that you have found all the laundromats in Bergen County, You must be Indiana Jones. I have map of hidden laundromats and pirates treasures I can sell you.

Binky

11-15-2004, 03:51 PM

LaundryPro200 - Thanks for the constructive advice - now I know how you got your username.

Anonymous

11-15-2004, 05:25 PM

You are welcome. Advice is free. the map will cost you.

pete f

11-16-2004, 09:27 PM

Over the past 1-2 years I have been actively researching this business/industry, and think it can be a great opportunity. Through drive by, Yellow Pages searches, and other means, I have managed to figure out where most, if not all, of the mats are in the Bergen County area I am interested in. With the exception of the Fowler website, I have not been able to find anything on-line or locate a broker to aid in my search for available stores for sale. I've tried registering at NYlaundromats.com for their available lists, but never received anything.

Anyone have advice on how to locate available stores in my area without sending out a lot of blind inquiries to store owners?

do not discount calling owners, that is how agents get listings. I bought my first ( and most profitable mat) that way.

anonymous

11-17-2004, 01:02 PM

Anyone have advice on how to locate available stores in my area without sending out a lot of blind inquiries to store owners?

Some valuable advice I received from this board when I first started looking for a mat was to 86 the brokers. That advice saddened me a bit as the alternate counsel was to leg it out - go to every laundromat I would possibly be interested in and start a conversation with the owner.

I followed the advice and learned two important things:

1. The large majority of laundromats I visited were for sale. Soon, I began to realize that this decision to enter the world of entrepreneurship was a VERY serious one. If they were all for sale then most weren't making enough to be worthwhile.

2. The second thing I learned was that people loved to talk about themselves and, if given enough time, would list every single faux-pas they made in this business. It was invaluable. Straight from the horses mouth information on what NOT to do!

All the best,
Toto